California Revenue and Taxation Code

§ 17088.3

RTC § 17088.3 Effective Oct 3, 1997Div. 2 · Part 10 · Ch. 3 · Art. 2

Statute text

(a)Section 7518 of the Internal Revenue Code, relating to tax incentives relating to merchant marine capital construction funds, shall apply, except as otherwise provided.

(b)Section 7518(d)(2)(C) of the Internal Revenue Code is modified as follows:

(1)By substituting “70 percent” in lieu of the reference to “the percentage applicable under Section 243(a)(1).”

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Legislative history

Added by Stats. 1997, Ch. 611, Sec. 12. Effective October 3, 1997.